Bittnet Systems Cash Flow Statement

Financials in millions RON. Fiscal year is January - December.

Millions RON. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	-6.12	5.33	-6.29	-5.36	12.32
Depreciation & Amortization	10.11	10.74	9.05	4.42	2.39
Asset Writedown & Restructuring Costs	-	2.08	-	0.5	-
Loss (Gain) From Sale of Investments	-0.82	4.18	2.07	3.41	-11.99
Loss (Gain) on Equity Investments	-	0.04	0.12	-0.27	-0.77
Stock-Based Compensation	0.31	1.04	1.07	0.89	1.07
Provision & Write-off of Bad Debts	0.95	-0.01	0.29	0.2	0.05
Other Operating Activities	5.46	10.07	8.11	7.8	6.24
Change in Accounts Receivable	-18.88	-58.62	32.57	-15.17	-1.34
Change in Inventory	1.58	-0.62	38.97	2.24	-0.03
Change in Accounts Payable	-	58.43	-25.2	19.34	-4.15
Change in Other Net Operating Assets	69.91	-	-	-	-
Operating Cash Flow	62.49	22	60.77	18	3.78
Operating Cash Flow Growth	184.06%	-63.80%	237.68%	376.22%	-53.46%
Capital Expenditures	-1.79	-2.02	-1.71	-4.05	-1.63
Cash Acquisitions	-4.98	-	-28.3	-15.02	-9
Divestitures	-	13.86	-	-	-
Investment in Securities	6.22	1.47	-0.55	10.25	4.95
Other Investing Activities	1.3	0.71	-0.02	0.49	0.57
Investing Cash Flow	0.75	14.02	-30.58	-8.34	-5.11
Long-Term Debt Issued	2.34	17.24	24.64	19.56	-
Long-Term Debt Repaid	-12.14	-16.99	-54.97	-2.96	-7.71
Net Debt Issued (Repaid)	-9.8	0.25	-30.33	16.61	-7.71
Issuance of Common Stock	-	2.86	35.81	-	10.48
Repurchase of Common Stock	-3.39	-0.77	-	-2.6	-
Common Dividends Paid	-0.52	-3.89	-0.62	-	-
Other Financing Activities	-6.49	-31.06	-7.34	-4.76	-2.91
Financing Cash Flow	-20.21	-32.61	-2.48	9.25	-0.14
Miscellaneous Cash Flow Adjustments	-	-0.07	-	-0	-
Net Cash Flow	43.03	3.34	27.71	18.9	-1.47
Free Cash Flow	60.7	19.98	59.06	13.94	2.15
Free Cash Flow Growth	203.76%	-66.16%	323.62%	548.03%	-69.97%
Free Cash Flow Margin	15.39%	4.95%	16.45%	7.26%	1.96%
Free Cash Flow Per Share	0.10	0.03	0.10	0.03	0.00
Cash Interest Paid	6.49	6.58	7.34	3.33	2.87
Cash Income Tax Paid	1.08	1.99	0.92	1.39	0.98
Levered Free Cash Flow	70.18	-4.54	39	8.26	13.86
Unlevered Free Cash Flow	75.59	-0.24	43.1	10.97	15.9
Change in Working Capital	52.61	-0.81	46.34	6.41	-5.52

Source: S&P Global Market Intelligence. Standard template. Financial Sources.